Refinancing further enables VTTI’s strategy, which aims to accelerate growth and have over half of earnings come from transitional and sustainable sources by 2028.
Rotterdam, the Netherlands – VTTI, an industry leader in energy infrastructure, announces that it has raised $1.7 billion of financing consisting of a mix of U.S. Private Placement (USPP) Notes, Bank Term Loans, and an undrawn Revolving Credit Facility to finance VTTI’s growth plans. The new financing also further diversifies VTTI’s access to liquidity from a wide group of banks and both European and US private placement lenders. A new common terms platform was put in place which will allow for bank debt and private placements to be raised in the future.
The bank financing also includes an Environmental, Social, and Governance (ESG) linked tranche, which is VTTI’s first ESG-linked loan. The metrics in the loan are linked to the VTTI Group’s ESG targets, reflecting the entire organisation’s focus and commitment to the energy transition and being a sustainable company.
“With VTTI’s Strategy 2028, we’ve been accelerating our plans to become an even stronger global energy infrastructure company. We are building on the terminal business that has made us successful, while preparing for the future by investing in and developing the energy infrastructure the world needs to decarbonise. We could not do this without a robust financing program and strong financing partnerships,” said Hans van Geloven, EVP Finance, VTTI.
DC Advisory and Santander acted as Financial Advisors and joint USPP agents, White & Case acted as legal advisor, and lenders were advised by Latham & Watkins.
About VTTI:
For over 18 years, VTTI has been a global leader in independent energy storage and now develops critical energy infrastructure needed to move towards a carbon neutral future. Fueled by its purpose, ‘Energy to Move Tomorrow,’ the company safely provides and expands access to essential energy, including fuels, chemicals, gasses, and other energy derived products and accelerates the transition to sustainable sources for customers and partners. Please visit www.vtti.com for more information.
VTTI’s headquarter is in Rotterdam, the Netherlands, and the company is owned by Vitol, IFM Investors and ADNOC.
Media inquiries:
Julie Lenzner
SVP, Communications
jll@vtti.com
